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“Flight problems, baggage and refund issues are major complaints of air passengers”: DGCA
Consumer Affairs Secretary Rohit Kumar Singh mentioned that the...
Bagi’s net profit records a 40% jump to Rs 468 crore in Q2
Tapan Singhel, MD & CEO, Bajaj Allianz General Insurance With...
SAT rejects IRDA order, allows sale of pledged Reliance General insurance shares
Rejecting the IRDA’s Dec 27 order, the SAT in its order on Thursday has asked the IDBI Trusteeship Services, that is holding the pledged shares as a custodian, to make every endevour to find a suitable buyer for the pleged shares.
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“ As and when a suitable buyer is found suitable application would be made before IRDAI for appropriate approval to enable the IRDAI to carry out due diligence and to ascertain fulfillment of Fit and Proper criteria, financial soundness,’’ said the SAT order .
US expands its reinsurance program,transfers $400 mn in flood risk to capital markets
As part of the agreement, FEMA will pay $50.28 million in premiums for the first year of reinsurance coverage. Additionally, the agreement will cover 3.33 percent of losses for any single flood event with losses between $6 and $9 billion, and 30 percent if that same flood event has losses that rise to $9 to $10 billion.
Saudi Arabia’s regulator plans to raise capital requirements for insurers
-He declined to specify the new capitalization ratio but said it will be “definitely higher than the current one.”
-Asked about the economic impact of the global spread of a new strain of coronavirus, Alkholifey said it was “too early to assess.”
Berkshire Hathaway 100% ready for my departure: Warren Buffett
-Along with Microsoft co-founder Bill Gates and his wife Melinda Gates, Buffett in 2010 launched the “Giving Pledge,” in which billionaires promise to give at least half their wealth to philanthropic causes,
=Berkshire Hathaway has holdings in companies including American Express, JPMorgan Chase and Goldman Sachs. It is also active in sectors like insurance, through Geico; rail, with BNSF; and energy, via PacifiCorp,
-Forbes said in its rankings last year that Buffett was worth $82.5 billion.
China ends 2yr state custody of troubled Anbang Insurance
Authorities took control of the 2 trillion yuan ($285 billion) conglomerate in February 2018 after its former chairman Wu Xiaohui was arrested — and subsequently jailed — for fundraising fraud. They initially set themselves a 12-month timeline to raise cash by jettisoning non-core assets such as luxury hotels, preserve Anbang’s main insurance operations and find strategic investors. That deadline was later extended by a year to Feb. 22.
US lawmakers to introduce bipartisan Bill aimed at internet firms’ Liability shield
The move is the latest example of how regulators and lawmakers in Washington are reconsidering the need for incentives that once helped online companies grow, but are increasingly viewed as impediments to curbing online crime, hate speech and extremism.
How pharma firms are using Blockchain to track down counterfeit drugs
-“The current point-to-point systems infrastructure lacks the ability to keep data in sync across the healthcare supply chain, which ultimately increases the risk of counterfeit, diverted or otherwise illegitimate products,” David Vershure, head of channel and contract management for Roche’s Genentech unit, said in a statement.
-Among the 24 participating companies are Amgen Inc., FedEx Corp., GlaxoSmithKline Plc, Novartis, AmerisourceBergen Corp., Sanofi, Walgreens Boots Alliance Inc. and Walmart Inc.
-The World Health Organization estimates that counterfeit medicines worth 73 billion euros ($79.26 billion) are traded annually.
Autos contribute 7% of carbon dioxide in India: M&M’s Pawan Goenka
India is at present five years behind China when it comes to EVs, but can lead the world on a research and development as well as production front, he noted.
Boeing failure to fix 737 Max cockpit light may draw FAA penalty
The fines could accrue quickly. The agency’s enforcement guidelines say large businesses such as Boeing can be assessed $3,000 to more than $34,000 per violation. That could be applied to each of the more than 300 planes on which the alert didn’t work.
Coronavirus on G20 agenda as China reports uptick in cases
Japan and Singapore are on the brink of recession and South Korea on Friday said its exports to China slumped in the first 20 days of February, with the outbreak upending global supply chains.